In 2 days I will be homeless...

[2nd_city_saint787]

This absolutely kills me to post this. In 2 days I, and the 4 members of my family will be homeless sans a miracle.

 

We've tried getting a reverse mortgage on our home. To no avail.

 

Everyone here has terrible credit.

 

Is anyone here a miracle worker and know of anything I can do?

 

Again this absolutely kills me to post this.

[Brian]

Sorry to hear this, scs. Never want to hear this happen to anyone. Hopefully something happens in your benefit.

[2nd_city_saint787]

Thanks Brian. It looks extremely bleak. I've even gotten to the point where I'm asking pro athletes on twitter.

 

LDF I'll get back to you. I just started making decent money but the hole that had been dug is just so god damn large.

[iamshack]

SCS, can you tell us more about your situation?

 

 

[Chisoxfn]

Do you have more specifics? Is the issue other debt / obligations and payments their in addition to being behind on the mortgage? Is their equity in the current property or is it negative. Depending on circumstances, their might be a lot of different cards to play, some of which would involve various forms of BK, etc. Not to mention potential government programs.

[2nd_city_saint787]

Essentially things have been really tough for a couple years. We live in a home that is paid off. We've just been paying not nearly enough of our property taxes. They've accumulated to 10 thousand dollars. We tried loans and all sorts of things. The last hope we had was a reverse mortgage. We got an appraisal a few weeks ago. Word just came back 2 bleeping days before the house goes up for auction that it is being appraised for only 25K. From what I understand we HAVE to make home improvements with this reverse mortgage and with what needs to be done 25K is not enough.

 

Just a s***ty situation that I hate sharing with the public but right now its all I can do with the hope that we missed something we can do or if someone has a miracle up their sleeves.

 

I thank everyone for reading and their concerns.

[iamshack]

Essentially things have been really tough for a couple years. We live in a home that is paid off. We've just been paying not nearly enough of our property taxes. They've accumulated to 10 thousand dollars. We tried loans and all sorts of things. The last hope we had was a reverse mortgage. We got an appraisal a few weeks ago. Word just came back 2 bleeping days before the house goes up for auction that it is being appraised for only 25K. From what I understand we HAVE to make home improvements with this reverse mortgage and with what needs to be done 25K is not enough.

 

Just a s***ty situation that I hate sharing with the public but right now its all I can do with the hope that we missed something we can do or if someone has a miracle up their sleeves.

 

I thank everyone for reading and their concerns.

Thanks...I'm sure it's tough to share that.

 

I'm not sure what can be done about your home...does the auction winner need to at least assume the property taxes that are in arrears? What happens if no one bids?

 

Secondly, if we assume you lose the home, is their no option to rent?

[2nd_city_saint787]

From what I understand we are responsible for the 10k. They take it out of whatever it gets in auction.

 

I have no clue what happens if no one bids, or if we're allowed to stay until someone does.

 

Rent should be possible, but doesn't it take quite awhile to close on a house? Perhaps I'm just overwhelmed and rent right of the box will be possible.

[2nd_city_saint787]

As an added kick to the groin this home has been in my family for 75 years.

 

Another kick to the gut is that me and my sister BOTH started working. Long term, especially with rent now in the picture, that will help, but its just devastating to us that we're gonna lose this home.

 

Perhaps my initially reaction is overblown and things will work out, but I just don't know how quickly we can get into a home. I guess that may be the main concern.

[Jose Abreu]

Very sorry to hear this. Wish I could help. Best of luck to you.

[iamshack]

As an added kick to the groin this home has been in my family for 75 years.

 

Another kick to the gut is that me and my sister BOTH started working. Long term, especially with rent now in the picture, that will help, but its just devastating to us that we're gonna lose this home.

 

Perhaps my initially reaction is overblown and things will work out, but I just don't know how quickly we can get into a home. I guess that may be the main concern.

Well you need to find a place to live above all else. Generally, you can find places that allow you to move in quickly. I'd start scraping together what money you can and try and find something that works at least temporarily.

[2nd_city_saint787]

Another added kicker is finding a home right after being kicked out.

 

How does one find a place that won't check that stuff?

 

[iamshack]

Another added kicker is finding a home right after being kicked out.

 

How does one find a place that won't check that stuff?

Not sure about the Chicago market, but the Vegas market has places that do not do credit checks.

 

When you say homeless, do you literally mean your family will be on the streets, or do you just mean you will lose the family home, but have somewhere else to go, such as a family member or friend's place?

 

The ship may very well have sailed on your home, but most importantly is finding somewhere to go until you can stabilize things a bit.

[Steve9347]

I am sorry to hear this.

[BigEdWalsh]

This is terrible to hear about. I would have been homeless several years ago if it were not for the mercy of my ex-wife who took me in and let me live in a small cottage behind her home.....rent free. I was lucky, I guess you could say. I wish I had some answers for you. It pains me that I don't.

I hope all works out for you. Don't be embarrassed, we're all friends.

[2nd_city_saint787]

Not sure about the Chicago market, but the Vegas market has places that do not do credit checks.

 

When you say homeless, do you literally mean your family will be on the streets, or do you just mean you will lose the family home, but have somewhere else to go, such as a family member or friend's place?

 

The ship may very well have sailed on your home, but most importantly is finding somewhere to go until you can stabilize things a bit.

 

At the time of the post I feared the streets would be a legit possibility. That was fresh off getting the call about the reverse mortgage.

 

I do think we'll figure something out, but I have no clue what. With this all happening so quickly its a clusterf*** right now. The house goes up for auction FRIDAY!

 

We have no family in the area, and with 3 of us having jobs we can't just leave. The plan right now has to be we all go our separate ways to friends houses while we search for some place that won't do a credit check.

 

 

[Soxbadger]

If you havent been paying your taxes you then each year they should have been sold at a tax sale. If they were sold 3 straight years then the person who bought the taxes can get the property through a tax sale. Even if they do this theyd still have to evict.

 

http://www.cookcountyclerk.com/aboutus/Doc...n_eBrochure.pdf

 

Have you gotten an estimate of redemption? Have you contacted any friends, acquaintances, relatives who could potentially pay off the taxes and then put a lien on the property?

 

Based on what youve said im just not 100% sure at what part of the process you are at.

[2nd_city_saint787]

This is terrible to hear about. I would have been homeless several years ago if it were not for the mercy of my ex-wife who took me in and let me live in a small cottage behind her home.....rent free. I was lucky, I guess you could say. I wish I had some answers for you. It pains me that I don't.

I hope all works out for you. Don't be embarrassed, we're all friends.

 

Thank you. Thank you Steve as well.

 

I do consider you all friends. It's brutal trying to open up to my real friends about it and I actually wanted to come here first in hopes some can "talk me off the ledge" ( I usequotes because I don't want anyone thinking I'm gonna do anything stupid) and cool me down a bit. That took a lot for me to do.

 

 

[2nd_city_saint787]

If you havent been paying your taxes you then each year they should have been sold at a tax sale. If they were sold 3 straight years then the person who bought the taxes can get the property through a tax sale. Even if they do this theyd still have to evict.

 

http://www.cookcountyclerk.com/aboutus/Doc...n_eBrochure.pdf

 

Have you gotten an estimate of redemption? Have you contacted any friends, acquaintances, relatives who could potentially pay off the taxes and then put a lien on the property?

 

Based on what youve said im just not 100% sure at what part of the process you are at.

 

For what it's worth I am in Lake County(IN). I'm not sure if there's a difference between states, or counties for that matter, but right now all I know is we owe 10 thousand dollars in property taxes. If we don't pay that full amount by TOMORROW the house goes up for auction Friday. I have no idea if that means we have to be out by Friday or what.

 

My mom ( yes I am 28 and live at home with my mother) is going to the Lake County treasury tomorrow to see what the hell is going on.

 

10k is just too much to ask for. I don't know anyone with that kind of money.

[Soxbadger]

For what it's worth I am in Lake County(IN). I'm not sure if there's a difference between states, or counties for that matter, but right now all I know is we owe 10 thousand dollars in property taxes. If we don't pay that full amount by TOMORROW the house goes up for auction Friday. I have no idea if that means we have to be out by Friday or what.

 

My mom ( yes I am 28 and live at home with my mother) is going to the Lake County treasury tomorrow to see what the hell is going on.

 

10k is just too much to ask for. I don't know anyone with that kind of money.

 

It does matter here is what I can find:

 

https://www.lakecountyin.org/portal/media-t...ge/default.psml

 

1) Have you received certified letters? If not, maybe there is some avenue for an emergency motion to stay the proceeding.

 

2) Even if it is the worst case scenario the new person would still likely have to evict you. I dont practice law in Indiana so I dont know the exact rules. If I was in your situation, I would go to the tax sale. If the taxes are purchased I would contact the purchaser. I would see if I could work out some sort of deal to buy the property. Using all of your facts the taxes are approximately $10k, the house is worth $25k. The new purchaser could basically make $15k if he was to enter into a deal where you buy back the house at $25k payable over time. Also it sounds like the property needs significant repairs, so they wouldnt have to invest anything and possibly could net a nice profit. For your family it basically sucks, you lose a lot of money but you get to stay in the house and if you can figure out a way to pay $25k over even 10 years, you live to fight another day.

 

Sometimes there is no magic trick, but its always about money.

Edited September 3, 2015 by Soxbadger

[RockRaines]

Did you try a gofundme or fund raising of some sort?

[2nd_city_saint787]

It does matter here is what I can find:

 

https://www.lakecountyin.org/portal/media-t...ge/default.psml

 

1) Have you received certified letters? If not, maybe there is some avenue for an emergency motion to stay the proceeding.

 

2) Even if it is the worst case scenario the new person would still likely have to evict you. I dont practice law in Indiana so I dont know the exact rules. If I was in your situation, I would go to the tax sale. If the taxes are purchased I would contact the purchaser. I would see if I could work out some sort of deal to buy the property. Using all of your facts the taxes are approximately $10k, the house is worth $25k. The new purchaser could basically make $15k if he was to enter into a deal where you buy back the house at $25k payable over time. Also it sounds like the property needs significant repairs, so they wouldnt have to invest anything and possibly could net a nice profit. For your family it basically sucks, you lose a lot of money but you get to stay in the house and if you can figure out a way to pay $25k over even 10 years, you live to fight another day.

 

Sometimes there is no magic trick, but its always about money.

 

First and foremost, thank you.

 

This is something I will have to discuss with my mother. I've tried to get as much info about it from her as possible but I am not aware of everything. I will do what I have to to fight for this house. It has tremendous sentimental value to me and I was hoping to keep in the family for a very long time.

 

Seeing as the 10 thousand is due tomorrow ( the fact that the reverse mortgage took so long really irks me) one would have to think we have been given certified letters.

 

 

 

 

 

Rabbit, thank you for your kind words. I would like to think that I'm a smart fellow. The one thing I didn't know was my moms struggle. I had been out of work for awhile but even when I was working previously, and now, she hasn't asked for a dime sans helping with groceries.

 

I feel like absolute s*** right now that she allowed me to be a borderline free loader even when I had money to help. Wish I was smart enough to realize that before it was too late.

 

 

[2nd_city_saint787]

Did you try a gofundme or fund raising of some sort?

 

Sans literally tweeting at Jared Allen and Kyle Long for long shot reasons, no. That really sounds ridiculous but whatever.

 

I just don't know if 10k is feasible in such a short period of time. Or how to go about promoting it.

 

Again this is where the lengthy period of time it took to hear back on the reverse mortgage really sucks. They came 2 weeks ago. I dont know what goes into that, but that feels like an awful long time for an appraiser to loom at photos of the house and put a number on it.

[RockRaines]

Sans literally tweeting at Jared Allen and Kyle Long for long shot reasons, no. That really sounds ridiculous but whatever.

 

I just don't know if 10k is feasible in such a short period of time. Or how to go about promoting it.

 

Again this is where the lengthy period of time it took to hear back on the reverse mortgage really sucks. They came 2 weeks ago. I dont know what goes into that, but that feels like an awful long time for an appraiser to loom at photos of the house and put a number on it.

Start a gofundme or crowdfunding and share it on social media and twitter, you never know what will happen.

[greg775]

Can you do what Badger suggested? Best wishes.